Final account
count
credit (rm)
975,000
7,500
29,250
90,000
6,000
4) muharam sdn. bhd.
trial balances as at 31 december 2014
details
debit (rm)
purchases
300,000
sales
return inwards
10,000
return outwards
premise at cost
683,000
motor vehicles at cost
125,000
investment
300,000
dividend received
rent expenses
150,000
rent revenue
discount allowed
7,500
discount received
accumulated depreciation as at 1/1/2014
premise
motor vehicles
9% loan from bank
interest on loan
6,750
inventories as at 1/1/2014
35,000
allowance for doubtful debts
bad debts
3,000
water and electricity expenses
22,500
salaries
300,000
insurance
150,000
bank
20,250
account receivables
94,250
account payables
capital
drawing
15,000
245,000
85,000
150,000
1,500
93,000
540,000
total
2,222,250
2,222,250
1. inventories as at 31 december 2014 was rm 14,000
2. provision to be made:
i. depreciation for non-current assets: premise 2% on cost and motor vehicles 5%
on reducing balance method
ii. allowance for doubtful debts was 3% on account receivable's balance
3. insurance paid in advance rm 1,200
4. unpaid salaries amounted rm 10,000
5. discount received 1 month in advance rm 2,300
6. rent that still not yet received rm 1,200
7. the owner took out rm 4,000 inventories for personal purposes